How Does Hyperliquid (HYPE) Compare to Top DeFi Competitors in Performance and Market Share in 2025?

Hyperliquid's market cap of $12.8B ranks 11th among DeFi competitors

Hyperliquid has firmly established itself as a significant player in the DeFi ecosystem with its impressive $12.8 billion market capitalization, positioning it at the 11th rank among decentralized finance competitors as of August 2, 2025. This substantial valuation reflects investor confidence in Hyperliquid's innovative platform and technological infrastructure. The HYPE token, with a circulating supply of approximately 333.93 million out of a maximum supply of 1 billion tokens, demonstrates strong market demand and liquidity.

| Metric | Value | |--------|-------| | Market Cap | $12.8 billion | | DeFi Ranking | 11th | | Circulating Supply | 333.93 million HYPE | | Maximum Supply | 1 billion HYPE | | Current Price | $38.41 | | 24h Trading Volume | $462.12 million |

The platform has experienced remarkable growth with the HYPE token showing an impressive 87.51% increase over the past 90 days, despite a recent 13.83% correction in the past week. This performance indicates that Hyperliquid is gaining traction in the competitive DeFi landscape where market position is often volatile. The robust trading volume exceeding $462 million in 24 hours further validates market interest in this protocol, suggesting potential for continued expansion within the decentralized finance sector.

HYPE token price up 87.5% in last 90 days despite recent pullback

Hyperliquid's HYPE token has demonstrated remarkable market performance over the past quarter, achieving an impressive 87.5% price increase in the last 90 days despite experiencing a recent market correction. Currently trading at approximately $38.41, HYPE has established itself as a significant player in the cryptocurrency market, now ranking 11th by market capitalization with a value exceeding $12.8 billion. The token's recent performance metrics reveal interesting patterns across different timeframes:

| Timeframe | Price Change | Market Context | |-----------|--------------|----------------| | 24 hours | -2.95% | $462M trading volume | | 7 days | -13.83% | Recent pullback phase | | 30 days | -5.51% | Short-term correction | | 60 days | +5.54% | Mid-term growth | | 90 days | +87.51% | Strong quarterly performance |

The recent pullback appears to be part of a broader market adjustment rather than a fundamental issue with Hyperliquid's ecosystem. With a circulating supply of approximately 333.9 million tokens from a maximum supply of 1 billion, HYPE maintains substantial growth potential as adoption of the Hyperliquid platform continues. Investors maintain interest despite the short-term volatility, evidenced by the consistently high daily trading volume and positive 60-day performance metrics. The platform's focus on decentralized exchange functionality and derivatives trading positions it well for continued growth in the DeFi sector.

Differentiating through derivatives and Layer 1 capabilities in DeFi space

Hyperliquid has carved a unique position in the DeFi landscape through its innovative approach to on-chain trading and Layer 1 capabilities. Unlike traditional decentralized exchanges that rely on Automated Market Makers (AMMs), Hyperliquid implements a fully on-chain order book system, establishing new benchmarks for decentralized trading efficiency. This architectural difference enables significantly faster transaction processing and reduced costs compared to conventional platforms.

The HYPE token serves as the cornerstone of the Hyperliquid ecosystem, powering decentralized applications and covering transaction costs. Its integration into the platform's economic structure creates a seamless experience for traders and developers alike.

| Feature | Traditional DEXs | Hyperliquid | |---------|------------------|-------------| | Order System | AMM-based | On-chain order book | | Transaction Speed | Moderate | High-performance | | Cost Efficiency | Variable | Optimized | | Derivatives Support | Limited | Comprehensive |

Hyperliquid's focus on derivatives trading addresses a critical gap in the DeFi market, where sophisticated financial instruments have historically been underrepresented. By bringing these capabilities to a decentralized environment, Hyperliquid enables traders to access complex trading strategies previously available only in centralized systems. This strategic differentiation has attracted significant market attention, as evidenced by its $470+ million in daily trading volume and market capitalization exceeding $12.8 billion, firmly establishing Hyperliquid as an emerging force in decentralized finance.

Binance ecosystem integration boosts Hyperliquid's market presence

Hyperliquid's integration into the Binance ecosystem has dramatically elevated its market presence in the decentralized derivatives sector. This strategic partnership has catalyzed significant trading volume for the HYPE token, creating substantial buzz around potential future Binance listings. The impact of this ecosystem integration becomes evident when examining the trading metrics:

| Metric | Value | Impact | |--------|-------|--------| | Market Share | 60%+ | Dominant position in decentralized derivatives | | Binance Trading Volume | 10% | Significant contribution to overall exchange activity | | Market Cap | $12.82B | Positioned at CMC Rank #11 | | 24h Trading Volume | $462.11M | Demonstrates strong liquidity and trader interest |

The integration has facilitated broader adoption, with platforms like Bybit, Pendle, and Balancer adding HyperEVM support. Additionally, projects within the ecosystem such as Hyperstable, KittenSwap, and Hyperbeat have enhanced Hyperliquid's DeFi capabilities, providing price stability, governance mechanisms, and lending infrastructure. The launch of Kinetiq, a sophisticated liquid staking protocol integrated into the ecosystem, has further propelled HYPE's market performance. These developments have collectively strengthened Hyperliquid's position as a cornerstone in the decentralized derivatives market, evidenced by its impressive market capitalization and growing ecosystem adoption.